Dolphin Secures Three New 3D Seismic Contracts

In a challenging seismic market, Dolphin have succeeded in securing three new 3D seismic contracts with undisclosed clients, which will improve contract visibility for the remaining part of 2013 and 2014.

Two new contracts will be performed in Mediterranean waters, commencing immediately. The third contract is a 3D seismic contract over an existing producing field in the North Sea, which combined with the previously announced 2014 North Sea contract will require one of our high-capacity vessels for a total of approximately 4 months, commencing April 2014.

“Dolphin have extended the North Sea season as far as possible, remaining in production whilst awaiting awards from the large outstanding marine seismic industry tender back-log.

With the recent 3 contract awards, our contract visibility improves and we now see the seismic industry’s larger high-capacity 3D vessels in demand and being booked on larger exclusive and non-exclusive contracts in various regions of the world.

Based on the current market environment with focus on frontier deep water exploration, Dolphin is confident that our visibility will improve further, by additional award of larger contracts”, commented Atle Jacobsen, CEO.

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Press Release, October 29, 2013